How To Buy A Car Using Someone Else's Money

The report you are about to read could help you BUY THE CAR
OF YOUR DREAMS WITHOUT USING YOUR HARD EARNED MONEY for a down payment.

We get it. You're in a tight financial bind right now.
You're trying to budget, keep track of your expenses, and stay out of your
savings as much as you can. So when you really need to get a new (or new to
you) car, it can seem hard to justify the expense. Maybe you'll just get
repairs on the old one. Again. Even though it isn't reliable and the repairs
cost more money than you can really afford.

Have you thought about how much money you could be saving if
you could just figure out a way to make that first down payment? You could be
saving money on gas if you get a more fuel-efficient car. You could be making
more money from your job if your old car's constant breakdowns stop landing you
in trouble at work and cost you a day's wages.

You can't afford not to get a new car. So let's figure out
how you can afford it without tinkering with your savings. We've made it easy
for you. We believe you shouldn't have to risk your own financial security to
pay for that first down payment. We think buying a car should relieve the
pressure on your budget, not make it worse.

That's why we put together the top seven ways to get a down
payment on that car you need - without laying a finger on your own much-needed
savings.

Suggestion #1: Start with those who are close to you.

Getting into debt is a scary prospect these days, so start
your search for your needed funds with the most trusted people in your inner
circle: family and friends.

There's a lot talk about the dangers of borrowing from
friends and family, but consider this piece of advice from one of the original
wise men, Cicero: "It shows nobility to be willing to increase your debt to a
man to whom you already owe much."

There's a lot of good to be said for borrowing from friends
and family members. For one thing, they're certain to cut you a good deal.
Their only request will be that you pay back the loan within a reasonable
period of time.

Even better? If you're a day or two late paying them back,
your family and friends won't immediately ding your credit. They know you can
be trusted, and they know you're good for your debt. That forgiving attitude is
one of the reasons family and friends are our first choice for lenders. A few
ways to keep the debt from doing any damage to your relationships:

•Set a schedule for repayment and stick to
it. Though you can afford to be flexible by a day or two, let your family
and friends know you appreciate their trust by not abusing their good nature.
Stick to your agreement and do your best to always be on time.

•Make it formal. Separating the
agreement and your personal relationship can do wonders for keeping everything
amiable. Write down the terms of your agreement on paper so you don't have any
reason to argue later.

•Offer to repay in kind. Your loved ones
are doing you a pretty big favor, so offer to pay an interest rate on the loan.
There's a good chance they won't take you up on that offer - but they'll
appreciate that you made the gesture, and they'll remember you as generous and
caring instead of demanding.

Suggestion #2: Expand your circle.

If your family isn't an option for whatever reason, consider
those who have a vested interest in your well-being. Your doctor, lawyer, or
colleagues may be far better off than you are financially, and be willing to
offer you a loan if you agree to appropriate terms. There are downsides and
upsides to this option. Many people who know you as an acquaintance - however
close you may be - will want to earn interest on their loan. You could find
yourself paying 6 to 7 percent on what you borrow.

However, you still reap the benefit of lenience. Even if you
have to pay interest, your credit won't suffer if you're late with a payment,
and the acquaintance will probably be understanding if you have a personal
circumstance that throws you off for a little bit of time. The same rules for
family and friends apply here: make a formal agreement and stick with it.
That'll keep your relationships from going sour.

Suggestion 3: Take another look at your bank or credit union.

If you don't have a lot of money or collateral, you may
think you're not qualified for a bank loan. That's not necessarily true. There
are two ways to get a bank loan that have nothing to do with income. The first
is based on your credit score, the second on your reputation. Unsecured, or
signature, loans, aren't dependent on your assets. Instead of looking at how
much money you have or how much property you own, the bank looks at your
history as a borrower. If you have a good history, they feel they can trust
you, and will give you a loan based on your good name.

That good name can come from one of two places. The first is
the on-paper route, which is an examination of your credit score. If your bank
doesn't know you personally, they'll likely take a good hard look at your
previous credit history. If it's excellent, then you're a very good candidate
for a signature loan.

Even if your credit isn't the best, don't worry. The other
way to get a good name among banks is by being well known as an individual.
This is especially true if you keep your money with a smaller, local bank or
credit union. If the people at your bank know your name and have worked with
your family, they'll put in a good word for you. That good word can be the only
thing you need for that signature loan. Ask for their help and their approval.
They've known you a long time; they'll want to help you out.

Suggestion 4: Use a credit card.

Credit card debt is scary stuff, but most people get into
trouble because they don't know how to use their card properly. There are
plenty of ways to safely use your credit card to make a down payment without
getting yourself into trouble down the line.

Get a credit card
with a low interest rate or no interest rate for the first year. If you
know you can pay off your debt within the first six months to a year, there are
many credit cards that offer no APR or a very low one for those time periods.
You won't pay a cent of interest!

Budget your income to
pay off your credit card. If your plan is to use a card and pay no
interest, you're going to have to budget to pay off that card in time. People
get into trouble when the interest rates go up at the end of the year. Be the
one smart person who budgets properly and you'll outsmart the credit card
company at its own game.

Only use that credit
card for car payments. If you open a credit card for a car payment, chances
are you'll be tempted to use it for other things. Don't give in to that
temptation! Your budget for paying off the credit card will be blown, and the
temporary comfort of having money will soon be offset by high interest rates.
Use it for car payments only.

Be careful when using credit cards! There are plenty of ways
to use them well, but many people make mistakes. We want you to borrow money
without having to suffer any consequences, so budget your payments and keep
your APR low.

Suggestion 5: Get rid of some extra
weight.

Admit it. You've got a lot of stuff hanging around that you
don't really need. Think about whether you'd rather have that old parcel of
property or a new car that doesn't break down and has windows that actually
work. Take a hard look through your possessions and figure out what's not
pulling its weight.

Property. If
you have property of any kind, selling off even part of it can get you plenty
of money for that initial down payment and then some. If it's a small parcel, go
ahead and sell it if you had no plans for it. If you have a serious acreage,
consider selling just a piece of it - you'll never miss it, and you'll love the
new car it bought you.

Housing. You
may not have a whole slew of properties to sell off for cash, but you might
consider renting out or selling that gardener's shed at the back. What about
the barn? The garage? If your mortgage payments have gotten to be too much for
you, consider whether you'd rather have a house to upkeep or a car that gets
you to and from a brand-new apartment.

Old cars. The
car you're looking to replace can help you make that down payment on the new
one. Sell it for blue-book price or, if it's beyond repair, sell off the
individual parts. Many cars after a certain age are more valuable in pieces
than all together, and car enthusiasts will buy everything down to the frame
and the lug nuts if they need the parts.

Electronics. A
stunning 70% of Americans keep old hardware around the house long after they've
stopped using it. If you have an old computer, stereo, or television set that
you've long relegated to the basement, haul it out, dust it off, and sell it.
Even if it's not the latest model, it's still functioning well and it's worth
money. You'd be surprised how much you can get for certain computer cables.
Craigslist.org is an excellent resource for selling old junk.

Antiques. Do
you have any old furniture that may be of value to an antique store? We're not
advocating selling family heirlooms here, but if you have an old rocking chair
in the attic, an ancient-looking wagon in the barn, or a fistful of unwanted
gold jewelry sitting unworn at the bottom of your jewelry box, you might be
sitting on untold wealth. Ask an antique dealer to look at your pieces and
assess their worth. That new car payment may have been collecting dust around
the house all along.

These are just suggestions, but you can certainly look
around your own house and see what's worth selling. Don't simply assess items
based on whether that one thing can make the whole car payment, either: a bunch
of small items added up can get you there just as easily as one single item.

This is your chance to clear out the clutter and make room
for something brand new: that car you've had your eye on. You'll use a new car
every single day. How often are you going to use that parcel of land? If the
answer is "less than every day", we think you know which one is worth
your while.

Suggestion #6: Bad credit score? Go for the hard money.

A hard money lender can help you out if your credit score is
lousy. Instead of using your credit score as a gauge for whether you're
loan-worthy, hard money lenders secure your loan with the value of a piece of
real estate, like a parcel of land or a house. You can usually get a fairly
significant chunk of change for a hard money loan, which means you won't have
to worry about having enough money to make that first down payment on a car.

You also don't have to worry about your credit score fouling
up the works. If you've got some problems in your credit history, it won't keep
you from getting the money you need, since your loan is guaranteed by that
piece of real estate.

The down side of hard money loans is that the interest rate
is often very high. That's the trade-off for getting a loan even with bad
credit. You'll pay the loan back according to the agreement, and of course, if
you can't pay it back, the lender has the right to possess the property you
used to secure the loan in the first place.

However, all of this is only a problem if you don't budget
your money. And we know you're capable of doing that. Just plan to make all
your payments on time and not only will you get a car payment loan on bad
credit - you'll have built up new, good credit for the future! Pretty good
deal, right?

Suggestion #7: Get a jump-start on your next payday.

We've all been there. You really need a car to start
commuting to a great new job, but you need the first few paychecks from that
job in order to pay for the down payment on the car. It's a bad Catch-22, but
there's an easy solution for it.

Payday advance businesses will lend you money on the
security of a post-dated check. Usually they lend you money at very high
interest rates, but that's not a problem when you know you're going to be
having more money in the future. Payday advance businesses are also good for
you if you're worried about your credit score. The reason they secure your
check with a high interest rate is because they're not concerned with your
credit score OR your assets. They'll be getting paid more than the price of the
loan guaranteed.

These businesses are pretty hard-core about coming after you
if that check doesn't pan out on the agreed-upon date, so we highly advocate
only using their services if you're absolutely sure you're going to have that
money in the bank. That said, if you've got a guaranteed source of income
that's about to get you out of a tough financial spot and you just need a
little cash to start you off, this can be one of your best options.

One Option You Should NEVER Use

All of the suggestions we've given you for getting the money
for that first down payment are legal and take into account various
possibilities for your credit history, financial status, and personal
situation. We've tried to give you a wide array of options that fit every
possible background while still keeping you from getting into a tough spot.

That's why we're about to tell you the one suggestion you
should never, ever take. Do not, we repeat DO NOT use a loan shark. Loan sharks
are individuals or organized groups that offer you unsecured loans at a high
interest rate. They aren't backed by banks or recognized institutions, and they
are often part of organized crime in the area.

If your bank or credit agency sees you default on a loan,
they'll go after your credit rating and possibly sue you for the money you owe.
They can take the property or assets you've used to back the loan. All of this
is rough, which is why we've given you all the precautions you need to stay out
of those situations.

A loan shark is dangerous. Period. Loans sharks won't go
after the things you own. They'll go after YOU. They'll hurt you physically,
threaten you and your loved ones, or blackmail you and damage your reputation
permanently. They can seriously hurt you, and they are often completely
unafraid of the law.

Please take our advice on this one. There's no reason to use
a loan shark. We've given you lots of options for every financial situation you
could be in. Even if none of them work out for you (and if that's the case, we'd
be very surprised), a loan shark simply isn't worth it.

Keep your safety, and that of your loved ones, first and
foremost. Stay away from loan sharks. If that's your only option for a down
payment on a car, it simply isn't worth it.

Conclusion

There's a reason you're considering putting a down payment
on a car right now, even if you don't have the cash in hand. Maybe you really
need a car to commute to your job. Maybe you simply can't afford the repairs on
your old car. Whatever your reason, we know that you've gotten to a point where
you can't afford to be without a car, which is why you're looking for options.
I hope we've given you some good ones. I want you to be happy you borrowed the
money and got that new car, and I don't want you to have any regrets. I've
tried to give you the best ways we know to get a hold of that money without
dipping into your savings. That includes dipping into them right now OR when
that loan comes due.

Your money has a lot of value to you right now. It means
security, and it means not having to risk everything. we don't think anyone
should have to risk their security just to get their hands on a much needed new
car, which is why we are sharing this report: to show you that you have
options.

Now that you know what those options are, what are you
waiting for? Pick a solution that's best for you, and go get behind the wheel
of your dream car. If you keep the advice in this report in mind, you'll never
regret making that decision.

Contact

Make an Inquiry

First Name*

Last Name*

Contact Me by*

Email

Phone

Zip Code*

Comments

By submitting your contact information, you consent to be contacted by telephone about purchasing a vehicle or obtaining vehicle financing. Clicking on the Submit button above is your electronic signature.